1,101
1.1K
Dec 11, 2012
12/12
by
FBC
tv
eye 1,101
favorite 0
quote 0
i believe al-naimi is such a good representative of opec. he came out back in april when prices were running up and showed his frustration and said look, we need to get prices down. saudi arabia is the lynchpin of opec. they have spare capacity. they already have the production levels there that they can put onto the market. so that is what he did back in april. that is what kept prices down. he did a successful job there assad saud did. and they just really highlighted they're really in control. that is why you have seen -- go on. melissa: the other side has gotten really aggressive. we saw at the last meeting, rafael ramirez, representative from venezuela getting up talking about the fact they have more proven reserves than saudi arabia. saying they're a bigger oil giant. they brought studies from bp along to back the claim. if you look at opec's website now, they recognize venezuela being on top even though their production really lacks, but, you know, is the thooid turning inside opec? >> that is exactly the point there you made, melissa
i believe al-naimi is such a good representative of opec. he came out back in april when prices were running up and showed his frustration and said look, we need to get prices down. saudi arabia is the lynchpin of opec. they have spare capacity. they already have the production levels there that they can put onto the market. so that is what he did back in april. that is what kept prices down. he did a successful job there assad saud did. and they just really highlighted they're really in...
249
249
Dec 12, 2012
12/12
by
CNBC
tv
eye 249
favorite 0
quote 0
and the saudis don't want an iranian in charge of opec. the saudis have had to put forward their own man, as well, to replace him. is there going to be a delay? i spoke toal badri. listen to what he had to say about that and oil prices. >> do not jump to conclusion. let us -- let us hear what the conference will say. >> in terms of the oil price, sir. appears ostensibly everyone's happy with the current price. would you say the storm clouds are brewing in terms of levels of inventories, the amount of supply needed from opec compared to what it's currently pumping? >> when you look at the political situation, the situation in the united states, the fiscal cliff, you look at a lot of factors, there are really -- they contradict each other. i don't know where the price will go up or go down. i think the price will stay the same for next year. i don't think the price will come down. yes, there is some -- maybe 59, maybe 30 million dollars day, five-year average. and that's 30 million barrel only, the five-year average, as far as the stock is c
and the saudis don't want an iranian in charge of opec. the saudis have had to put forward their own man, as well, to replace him. is there going to be a delay? i spoke toal badri. listen to what he had to say about that and oil prices. >> do not jump to conclusion. let us -- let us hear what the conference will say. >> in terms of the oil price, sir. appears ostensibly everyone's happy with the current price. would you say the storm clouds are brewing in terms of levels of...
118
118
Dec 12, 2012
12/12
by
FBC
tv
eye 118
favorite 0
quote 0
thinking about potential stimulus, inflation fears, oil up more not so much on fed but news out of opec that they are going to leave their production ceiling in place even though they are out producing what the ceiling is now. that has been a little bit bullish for prices in oil but nothing much coming out of the fed any time soon. they need a pizza or something. cheryl: you never know. we could get a couple surprises when it comes to the language. you never know how they will react. >> as a predictor, as a predictor they are not predicting anything. absolutely right. we will be here to go crazy when it does. cheryl: i want to bring in scott marden, united advisers chief market strategist and take this to the equities perspective, talking a lot of action at the cme today. when it comes equities you have the dow up five days, traders waiting to see what the fed will do. it is all about extending the bond buying program. if we get a number below -p$45 billion which seems to be the threshold expectation, what do you think the stock market might do? >> probably sell off. if you are an equit
thinking about potential stimulus, inflation fears, oil up more not so much on fed but news out of opec that they are going to leave their production ceiling in place even though they are out producing what the ceiling is now. that has been a little bit bullish for prices in oil but nothing much coming out of the fed any time soon. they need a pizza or something. cheryl: you never know. we could get a couple surprises when it comes to the language. you never know how they will react. >>...
215
215
Dec 12, 2012
12/12
by
CNBC
tv
eye 215
favorite 0
quote 1
. >> opec and the fed, hey, u.s. production up. let's go to sharon epperson at the nymex. >> oil has really been on the move since the open a few minutes ago. not so much opec, which still packed with the current quota around 30 million barrels per day, it is producing more than that. but we are hearing, of course, from opec itself that saudi arabia has reduced its production in november to the lowest level in a year. so that seems to be a way that they will adhere closer to the current quota. we're also looking at the latest report from the international energy agency which may have more of an impact where oil prices are going in this session. they're looking for slightly demand in 2013. and they're pointing to china for the reason. we're anticipating we'll get the report from the energy department at 10:30 a.m. on oil supplies. the expectation is for a slight decline in food supplies. but we did see a major build in the industry report, if that is confirmed we could see these gains short-lived. back to you. >> all right. thank yo
. >> opec and the fed, hey, u.s. production up. let's go to sharon epperson at the nymex. >> oil has really been on the move since the open a few minutes ago. not so much opec, which still packed with the current quota around 30 million barrels per day, it is producing more than that. but we are hearing, of course, from opec itself that saudi arabia has reduced its production in november to the lowest level in a year. so that seems to be a way that they will adhere closer to the...
229
229
Dec 10, 2012
12/12
by
CNBC
tv
eye 229
favorite 0
quote 0
just how china comes into play here or sometimes even some of the middle eastern partners are where opec comes in and start to address crisis or supply in particular or technically how the market trades itself around that band. there was never really a premise to where people were looking for that to exceed 27 or '8, it started getting into the 30 level because of fundamental breakdowns. and i think that's the reason why a lot of people are starting to look at the historics to see if we hit that moving average which is much lower. >> michael gur ka from spectrum asset management, thank you so much. and thank you, everyone, for tuning into the show. i'm kelly evans. ross westgate will be back here tomorrow morning. now it's time for "squawk box" in the u.s. we'll keep an eye on the markets. have a great day. >>> good morning. president obama and john boehner meet face-to-face on sunday. does it mean we're any closer to the solution to the fiscal cliff? >>> a news conference by chairman ben bernanke, set for wednesday.
just how china comes into play here or sometimes even some of the middle eastern partners are where opec comes in and start to address crisis or supply in particular or technically how the market trades itself around that band. there was never really a premise to where people were looking for that to exceed 27 or '8, it started getting into the 30 level because of fundamental breakdowns. and i think that's the reason why a lot of people are starting to look at the historics to see if we hit...
266
266
Dec 7, 2012
12/12
by
CNBC
tv
eye 266
favorite 0
quote 0
also what's going to happen with the fed meeting and an opec meeting on wednesday. back to you. >> sharon, thank you so much for that. bob pisani is here at post 9. i'm sure you're going to talk about market action as it relates to what the speaker said a few moments ago. >> did you watch john boehner the speaker of the house? normally coolool and collected. looking a littles by frustrated. two-sentence answers. a little unusual for the speaker of the house and sort of very brusque and basically walked off on the press conference very quickly. good reason to be frustrated. let me give you some of the highlights of what a lot of people are talking about here. forget everything. don't go over the fiscal cliff but pass a simple tax bill. what would it entail? expend the tax cuts to those making under $250,000. increase taxes on dividends and capital gains to 23.6%. number three, know estate tax, payroll tax cut, unemployment benefits extension. basically strip everything out. no delay in sequestration. does this look like it would satisfy wall street? i don't think so.
also what's going to happen with the fed meeting and an opec meeting on wednesday. back to you. >> sharon, thank you so much for that. bob pisani is here at post 9. i'm sure you're going to talk about market action as it relates to what the speaker said a few moments ago. >> did you watch john boehner the speaker of the house? normally coolool and collected. looking a littles by frustrated. two-sentence answers. a little unusual for the speaker of the house and sort of very brusque...
247
247
Dec 11, 2012
12/12
by
CNBC
tv
eye 247
favorite 0
quote 1
but we're also waiting to see what happens in vienna with the opec meeting. in addition to the fed that comes out tomorrow. the expectation is, that opec will leave their current quota unchanged, around 30 million barrels per day. the actual production, around 31 million barrels a day. there may not be any change to that. the key will be what happens in terms of the election of a new secretary-general and saudi arabia in the running for that as well. back to you. >> thanks very much, sharon epperson. i did want to look at shares of largest for-profit hospital in the country. a secondary offering this morning. hga finds itself in the of so many movements of the capital structure, reflective of the 250i78s. don't forget, they borrow at incredibly low rates not long ago, $1 billion, to pay a special dividend. you want to pay a special dividend prior to any tax increase on dividends as well. capital gains figuring into that debate, let's call it at this point that we've been detailing down in d.c. with our "mission critical" coverage. this morning, two of the own
but we're also waiting to see what happens in vienna with the opec meeting. in addition to the fed that comes out tomorrow. the expectation is, that opec will leave their current quota unchanged, around 30 million barrels per day. the actual production, around 31 million barrels a day. there may not be any change to that. the key will be what happens in terms of the election of a new secretary-general and saudi arabia in the running for that as well. back to you. >> thanks very much,...
167
167
Dec 6, 2012
12/12
by
CNBC
tv
eye 167
favorite 0
quote 0
there's a lot to look forward to, david, on this front with the opec meeting next week as well. back to you. >> thank you very much sharon epperson. >> we did want to note for the viewers, a fairly large hedge fund that was in the news for not good reasons. diamondback capital management, a fund run by richard shimmal and larry kipanzi. richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us founders, andrew chasen is on trial right now. diamondback went down to about $2 billion, but as of this morning, that is no long ter case. the hedge fund saying that given redemption requests came in about 26% of total asset ors $520 million. it would be left with $1.45 billion apparently that's just not enough to run the successful hedge fund. they did have 140 or so people working for them. not sure how much they have trended that. as of now, their seven-year track record at this point. but they have spending redemptions as you might expect. rushing all of the assets to fund holders. often times in th
there's a lot to look forward to, david, on this front with the opec meeting next week as well. back to you. >> thank you very much sharon epperson. >> we did want to note for the viewers, a fairly large hedge fund that was in the news for not good reasons. diamondback capital management, a fund run by richard shimmal and larry kipanzi. richard schimel is the e ex-brother in law. lock capital management. two of those had already closed. level global has closed, in fact one of us...
301
301
Dec 24, 2012
12/12
by
CNBC
tv
eye 301
favorite 0
quote 1
opec's 2013 target is around $100. i think we'll move up into the mid-90s and probably press through that $100. one of the burdens we have is we do have an abundance of supply in the u.s. the u.s. won't export any crude oil, but i think the possibility of us starting to consume more, would drive and help support those higher prices. >> when you put on those longs, i'm wondering, because this week is a holiday shortened week. congress is coming back on the 27th. is this a trade for 2013? >> yeah, it is more of a trade for 2013. i wiould start to look at fartherer out contracts, to like december 2013, and play the entire year's action, just by being long that one contract. but i would strongly wait until after the beginning of the year, because of the weaker volume, the lack of participants. and i think that the price is really going to shop around. >> nat gas prices taking a step back. what do you see in the immediate future and what is the main catalyst here? the weather seems to be sort of calm. >> yeah. that's the is
opec's 2013 target is around $100. i think we'll move up into the mid-90s and probably press through that $100. one of the burdens we have is we do have an abundance of supply in the u.s. the u.s. won't export any crude oil, but i think the possibility of us starting to consume more, would drive and help support those higher prices. >> when you put on those longs, i'm wondering, because this week is a holiday shortened week. congress is coming back on the 27th. is this a trade for 2013?...